Wrise Group names HK and SG chiefs amid business expansion

Wrise Group has made key leadership appointments in Singapore and Hong Kong, alongside the launch of new corporate services and software businesses.

The wealth management enterprise has named Kevin Teng as CEO of Wrise WM Singapore, according to an announcement.

He will be taking over the role from Derrick Tan, chairman of Wrise Group who will now focus on strategic initiatives, growth and leadership for the group’s business.

Teng brings with him over 20 years of experience in wealth management. He previously worked alongside Tan at Bank of Singapore – Teng was team leader for greater China, while Tan was chief executive in Hong Kong.

Meanwhile, Joel Tan and Megan Zhang have been named co-CEOs of Wrise WM Hong Kong. Tan will head strategic initiatives in the special administrative region, with while Zhang will focusing on serving clients in China.

All new appointments are effective from as of 3 July.

Along with the additions to its team, Wrise Group has launched WeWrise Services, a corporate services business, as well as Voo Technologies (VooTech), which provides digital wealth management tools via a software-as-a-service model.

WeWrise provides a range of wealth structuring services, including fund design and both investment and risk management. The firm said it has representatives in Hong Kong, Singapore and Shanghai, with licences to operate in markets including Hong Kong, the Cayman Islands and British Virgin Islands.

Meanwhile, VooTech provides a range of digital services for Wrise’s wealth platform, Trex, including account aggregation, analytics and reporting. These will be marketed to external asset managers, family offices and fintech firms.

Since its launch last year, Wrise is on track to hit its target of $5 billion in assets under management (AUM), Tan said in a statement.

“Wrise’s strategic new hires and astute alignment with market movements remain part of our impending success in hitting our year-end target for an AUM of $5 billion. I am confident that technical and enhanced professional expertise from our senior leaders will lead our exceptional team to drive continued growth of Wrise’s business and assets,” he said